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the president to wage war. we do so at a time when the united states is so engaged in wars in afghanistan and iraq and our national debt exceeds $14 trillion. in light of these circumstances and the lack of united states vital interests in in libya, i do not believe we should be intervening in a civil war there. american combat forces are so efficient at certain types of operations and are over the horizon technology is so potent that the use of the military instrument to right wrongs exists as a tremendous temptation for presidents. american intervention in libya did not come as a result of a disciplined assessment of our vital interests or an authorization debate in the congress. given all that is at stake in pakistan, afghanistan, iran, saudi arabia, egypt, syria, yemen and elsewhere in the islamic world, a rational strategic assessment would not devote sizable american military and economic resources to a civil war in libya. it is an expensive diversion that leaves the united states and our european allies with fewer assets to respond to other contingencies. under the constitution, it
drawing down the cost of our military efforts in afghanistan and iraq. last year we spent a little over $150 billion. this year we'll spend a little over $100 billion. and the plan is to soon be down to at least $50 billion in two or three years. so over the ten-year period there'll be about eight years at nearly $50 billion or so spent on the war instead of $150 billion. that's part of the plan that we've been operating on for a long time. $150 billion for the war is not baseline expenditure of the united states. it was never projected to continue at that level, so hopefully we could bring it below $50 billion. maybe we went get to $50 billion. i don't know. but what is the reasonable estimate? i think the house republicans and the president said it would drop to $50 billion, and that would be the baseline out there for the rest of the time. that's $1 trillion. that's $1 trillion. so you take $1 trillion out of the $2.7 trillion, you're down to $1.7 trillion. and another thing that's scored in that, since that $1 trillion in war costs is scored the way mr. reid scored that, which is ph
there, as little afghanistan's. so a year ago al-shabaab conducted the first attacks, actually outside of somalia. they killed 76 people, including one american in uganda. so there's a growing concern that al-shabaab leaders are striving to strike targets, not just beyond somalia now, but beyond africa. a european plot was recently uncovered. it was in the works and it was uncovered. so links between al-shabaab and al qaeda in the arabian peninsula, the most active of all of the al qaeda franchises, are becoming clearer and clearer to us in the united states. they are communicating more about operations. they are working together on training. they are working together on tactics. the bomb making capability that al qaeda has, the expertise that they have there is being combined with al-shabaab's recruits. and these recruits frequently have western passports. many of them have u.s. passports. this is quite a deadly combination. and that's why last month, then cia director panetta called al-shabaab's threat to the u.s. homeland in his words significant and on the rise. u.s. forces have be
in afghanistan in a strategy of nation building that is not the best use of our national security, not the best use of our soldiers who are there to fight for our national security, but those are decisions that were made in the past. and we must pay the bill on those decisions even when i disagreed with them. and then we need to put together a plan that takes on our deficit and our debt, and that plan has to put all of the options on the table. some of my colleagues across the aisle, they said, well, we want to protect the tax spending programs where we've tucked in tax provisions for the wealthy and the well connected. we want to defend those. we don't want to touch those for the best-off americans. but we want to cut the programs for working americans. that is unacceptable. we have seen enormous increase in the disparity between the wages and welfare of our citizens in general and the best-off becoming much, much wealthier proportionately. we can't continue to say that we're going to protect the well-connected while attacking working families. that's not the america we want to build. we want
wars in iraq and afghanistan and participate in the nato exercise in libya. that's pretty expensive undertaking. we know that that has gone up 84%, military spending, in the last ten years, gone up 84%. we know at the same period of time that spending on mandatory programs -- that would be like social security, medicare, medicaid, agriculture payments, veterans payments. spending for those payments over the last ten years has gone up 32%. and we know that the rest of the budget, the so-called domestic discretionary spending which would include things like building highways, keeping federal prisons open, providing pell grants to college students, giving children from poor families early childhood education, putting money at the national institutes of health for madam chair research. that's one section of the budget. it comprises 12% of our budget. in the last ten years that part of our budget has gone up zero percent. no increase in spending in that section. most of our spending goes into the military, 84% increase over ten years, and mandatory programs, 32% over ten years. the bigge
billion in iraq and afghanistan to train the security forces, less than $10 billion to retrain our work force for the jobs of the future. well, mr. president, i see others have come on the floor. i'll wrap this up. deficit reduction is important. i'm not saying it isn't. but it is not the single-most important thing right now. the single-most important thing is to put people back to work. that will, as senator wyden said earlier, start to create the demand. it will spur more private investment as the federal government begins to invest in the future of this country. that's where we ought to be focusing on. once we get the wheels going again, once we get people back to work and the economy start to to -- starts to grow, that's when we start to reduce the deficit. to just focus on deficit reduction right now to the exclusion of putting people back to work reminds me of when doctors used to put leaches on people who were ill. it only made them more ill because it drained more blood out of their system. and most times proved fatal, as it did to our first president, george washington. our ur
arsenal. the current inventory is getting old and worn down from iraq and afghanistan. some equipment can be refurbished with life extension programs, but there is no getting around the fact that others must be replaced. when it comes to our military modernization accounts, he said the proverbial low-lying or low-hanging fruit, those weapons and other programs considered most questionable have not only been plucked, they have been stomped on and crushed. what remains are much-needed capabilities relating to our air superiority, our mobility, long-range strike, nuclear deterrents, maritime access, space and cyberwarfare, ground forces, intelligence, surveillance and reconnaissance that our nation's civilian and military leadership deemed absolutely critical. and he gave examples of a new tanker. he noted the ones we have are twice as old as many of the pilots who are flying them. a new generation strike fighter, the f-35. he said we have got to build more ships. the size of the navy has sunk to the lowest number since prior to world war ii. the army and marines, doing the bulk of our fight
assistance force, isaf, and u.s. forces afghanistan. the president expressed his full confidence in general allen as he begins this important assignment and that he said he looks forward to working closely with him. and with that i will take your questions. >> i want to follow-up on something the president said. he claimed to call speaker boehner and the other leaders after the house vote to resume meetings here, is that right? should we respect resumption a daily meeting? >> no, i think the president will call speaker boehner, based on what he said. he will call the leaders and arrange for a time for a meeting to happen here at the white house. is not a series of meetings budget sometime in the next few days. >> he also made note at the end there that is in progress or agreement with the concept of six or seven senators, how is the white house expects what this again is think to have an impact on the house republican? >> the news from the gang of six/seven italy a significant because it dramatized and reinforces the fact that the only way to deal a significant deficit reduction bill is to
to the president of the united states, as an example, we want you to continue to wage war in afghanistan at the cost of $10 billion a month, this president knows that he will have to borrow about $4 billion a month to meet that congressional appropriation. you see, we borrow about 40 cents for every dollar we spend. similarly, when it comes to the payments that we make to our veterans, who are disabled, we have promised them we will pay you, because you served our country and you lost a limb or you were injured and we will compensate you for that loss for the rest of your life. we need in making that commitment that we're also making a commitment to borrow the money necessary to do it. so periodically a president will come to congress and say, i understand our obligations which you have sent to me and i have approved, and now i ask you to extend my authority to borrow the money to meet those obligations. that has happened 89 times since 1939. since we passed this law, presidents of both parties have come to congress and asked for that authority. and aceman as i mentioned, not d congress
and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including cutting unnecessary spending on agricultural subsidies and auctioning off electromagnetic spectrum that the government currently holds. finally, by cutting the government by over $2 trillion, we'll have to borrow less money than anticipated and that will save an additional $400 million -- sorry, $400 billion in projected interest costs. in total, the senate democratic plan on which we will vote would cut the deficits by $2.7 trillion over the next ten years. while senator reid's proposal would not address the tax gimmicks and loopholes throughout our tax code that help favor the well-connected, this omission does not m
raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a more faster, more robust recovery with a greater job growth? >> well, as i said in my, in my testimony, we, given that there's a lot of uncertainty how the economy will evolve, we have to keep all options, both for tightening and for easing on the table. we're doing that. but, again, we are already providing an exceptional amount of accommodation and, as you know, recovery is still pretty slow. >> now i want to turn to the question of the debt ceiling. i know you discussed that quite a bit. i find it interesting under president bush's years, he raised the debt ceiling to the tune of about $5.4 trillion, during his period of time. i didn't hear the same comments then that
Search Results 0 to 10 of about 11

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